Critical Mineral Resources PLC (LSE:CMRS) CEO Charles Long visits the Proactive London studio to speak with Thomas Warner about the company's strategic shift towards Morocco and its plans for the future.
Under new management in June 2022, the company transitioned its primary operations from Cyprus to Morocco, citing better geological potential and the ability to develop mines more rapidly. Long explains that Morocco's appeal lies in its stable political environment, strong infrastructure, including renewable energy sources, and a conducive legal framework.
The company currently holds two key projects in Morocco: the Anzar copper-silver project and the Zagora cobalt project. The Anzar copper project boasts sedimentary-hosted copper deposits with impressive grades of up to 40% copper and significant silver content. Long expresses optimism about its potential for rapid production due to its geological attributes.
In contrast, the Zagora cobalt project has shown promising results with a 1.15% cobalt assay, and the company plans to systematically explore its potential. Long emphasises the importance of their local business partner's expertise in Morocco, facilitating access to projects and providing invaluable knowledge of the region's mining economics.
Looking ahead, Long envisions the company in production mode within three years, with expanded portfolios containing a variety of critical minerals. As they continue to assess projects, they aim to maintain a prudent approach while seeking opportunities for growth.
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Critical Mineral Resources PLC
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